Software as a service (SaaS): Hyper-growth is what Oracle wants

The Indian economy has undergone fundamental changes as we transition to a data-led system and technology is playing a key role in this transformation. The Indian Software as a Service (SaaS) market is expanding fast as a part of this journey. It is anticipated that the SaaS market will grow at a CAGR of 27% over 2022-2027 to attain $15 billion in size by 2026.

Banking on large-scale growth of the SaaS market in India is cloud major Oracle, especially given government initiatives like ‘Digital India’ and ‘PM Gati Shakti’. Oracle’s growth strategy for FY23 has it betting big on the public sector. It is putting together a public sector team which will work across SaaS pillars to enable hyper-growth in India. “We are looking at hiring senior sales leaders and solution architects to support our strategy, as we anticipate high demand,” said Deepa Param Singhal, vice president, Applications, Oracle India.